SAN FRANCISCO – A pair of office buildings have changed hands in San Francisco. They include the 330 Townsend Street in the South of Market (SOMA) district and 995 Market Street in the city’s mid-Market corridor. CIM Group purchased the Townsend property for an undisclosed sum. It is 98 percent leased to a variety of creative and professional service firms. The Market Street property was purchased by 995 Market Street SF Investment, which was a joint venture between Columbia Pacific Advisors and Long Market Property Partners. It is anchored by Black Rock City, which produces the famous Burning Man Festival. The new owner plans to implement a significant capital improvement program at the site in order to attract creative and high-tech tenants. Mike Taquino, Daniel Cressman and Kyle Kovac of Newmark Knight Frank Cornish & Carey Commercial Capital Group represented the Townsend seller, ATC Partners, as well as the Market Street buyer.
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